The European Union is waiting for India’s response to its proposal of an ‘investment court system’ as a forum for trade arbitration, a move which could give an impetus to the negotiations for the India-EU Free Trade Agreement (FTA) and the Bilateral Investment Treaty (BIT).
Speaking to a select group of journalists on Saturday, the EU’s Executive Vice President and Commissioner for Trade Valdis Dombrovskis said that the EU remains the single largest trading market in the world despite a growing number of risk factors such as the war in Ukraine. He remarked that Russian oil flowing into the EU zone through Indian oil majors may neutralise western sanctions against Moscow.
